Builders FirstSource, Inc. has reported its results for the fourth quarter and full year ended December 31, 2021.

The company reports net sales of $4.6 billion for the quarter, an increase of 83.1% compared to a year previous, and a gross profit of $1.5 billion showed an increase of 122%. Builders FirstSource says those numbers were driven by the merger with BMC, double-digit organic growth, and commodity inflation.

Net income grew 216.2% to $442.5 million, or $2.31 per diluted share, and adjusted net income increased 247.6% to $532.4 million, or $2.78 per diluted share. The company repurchased approximately 16.5 million shares of its common stock for a total cost of approximately $1.2 billion.

The adjusted EBITDA increased 110.0% to a record fourth quarter $793.4 million and the adjusted EBITDA margin increased 700 basis points to 17.1%.

“We achieved another quarter of double-digit core organic growth to conclude an outstanding year of above market performance and record results in 2021. On a pro forma basis in 2021, we delivered core organic growth of 21% and produced record sales of nearly $20 billion to deliver over $3 billion of Adjusted EBITDA and a record adjusted EBITDA margin of 15.4%,” said Dave Flitman, CEO. “Our business is strong and we grew sales by more than 25% and adjusted EBITDA by more than 60%. I am extremely proud of our team members who achieved these outstanding results despite the many supply chain challenges impacting our industry.”

Increased sales and profits in the fourth quarter anchored a positive year for Builders FirstSource. The company’s full year 2021 report includes net sales of $19.9 billion for the period, increased 132.4% and a gross profit of $5.9 billion increased 163.3%, both numbers also driven by the merger with BMC, commodity inflation, and strong organic growth. At the end of the year, the company saw net income increase 450.3% to $1.7 billion, or $8.48 per diluted share, and adjusted net income grew 464.8% to $2.1 billion, or $10.32 per diluted share.

Looking ahead, and based on several assumptions, Builders FirstSource anticipates 2022 will bring recently completed acquisitions projected to add net sales growth of 4- to 5%.

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